Form 4: Executive Sells HBNC Shares for Tax Obligations

Horizon Bancorp Executive Vice President Mark E. Secor disposed of 2,309 common shares to cover tax liabilities.

Summary

• Mark E. Secor, Executive Vice President of Horizon Bancorp Inc. (HBNC), reported a disposition of common stock.
• On March 23, 2026, Secor disposed of 2,309 shares of common stock.
• The shares were disposed of at a price of $16.28 per share.
• This transaction was coded as 'F,' indicating the shares were used to satisfy tax withholding obligations.
• Following this transaction, Secor directly beneficially owns 36,974 shares of Horizon Bancorp common stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. The disposition of shares is for tax purposes, not a discretionary sale, and therefore does not reflect a change in the executive's confidence in the company.

Positives

• The transaction is a non-discretionary disposition of shares, specifically for satisfying tax withholding obligations, which is a routine event for executives receiving equity compensation.

Negatives

• The transaction resulted in a reduction of Mark E. Secor's direct beneficial ownership by 2,309 shares, though this was for tax purposes rather than a discretionary sale.

Future Outlook

No forward-looking statements or guidance are provided in this Form 4 filing.

Industry Context

StockSavvy.ai notes that Form 4 filings are routine disclosures for corporate insiders, providing transparency into their ownership changes. This specific transaction, coded 'F', is common for executives to cover tax liabilities associated with equity awards, rather than a discretionary sale reflecting a change in sentiment about the company's prospects.

Comparison to Industry Standards

• This type of transaction (disposition of shares for tax withholding) is a common and standard practice across industries for executives receiving equity-based compensation, aligning with typical compensation structures and tax obligations.

Stakeholder Impact

• Shareholders gain transparency into insider ownership changes, which is a standard regulatory requirement.
• The direct impact on shareholders from this non-discretionary tax-related transaction is minimal.

Key Dates

Recommendation

The transaction is a routine, non-discretionary sale of shares by an executive to cover tax liabilities associated with equity compensation. It does not signal a change in the company's fundamentals or the executive's long-term outlook, thus a 'hold' recommendation is appropriate based solely on this filing.

Keywords

Horizon Bancorp, HBNC, Mark E. Secor, Insider Trading, Form 4, Executive Compensation, Tax Withholding, Beneficial Ownership